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Go First crisis: Go First owes a total of $780.88 million to its creditors that include Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
"There are only two options, either liquidation or extend the resolution timeline in the hope of finding a buyer. Lenders are inclined toward liquidation since it is unlikely that this airline will find any buyers due to the legal and operational issues it is facing," said a person familiar with the process.
Go First crisis: Lenders believe that the airline will not find any buyers due to its legal and operational issues, and hence are inclined towards liquidation.